Why bitcoin is rising while there have CORONA's impact?

[Dark_Sky 8489]

On 4/10/2020 at 8:17 PM, guatazoo said:

Does anyone here knows the purpose of bitcoin to be rising while the world is fighting due to CORONA crisis?

For me what's I think is that, mostly of people avoiding to use paper money due to the distribution of CORONA, so that's maybe many people are currently buying bitcoin and using it as the payment method.

 

Do anyone here agreeing with me? If you are not agreeing with me, just give your reason why bitcoin is rising with while there have CORONA impact.

I agree to this. 

Actually there are some countries now which accepting bitcoin or cryptocurrencies as a mode of payment to their products. 

Which is one of the reason while bitcoin is rising. 

[Zues 1069]

On 4/10/2020 at 8:17 PM, guatazoo said:

Does anyone here knows the purpose of bitcoin to be rising while the world is fighting due to CORONA crisis?

For me what's I think is that, mostly of people avoiding to use paper money due to the distribution of CORONA, so that's maybe many people are currently buying bitcoin and using it as the payment method.

 

Do anyone here agreeing with me? If you are not agreeing with me, just give your reason why bitcoin is rising with while there have CORONA impact.

i think that it shows that there are no significant relationship between cryptocurrency and bitcoin with the corona virus because I think that it cannot affect the digital financial status of the coins and it can obly affect people. 

[guatazoo 7150]

28 minutes ago, Zues said:

i think that it shows that there are no significant relationship between cryptocurrency and bitcoin with the corona virus because I think that it cannot affect the digital financial status of the coins and it can obly affect people. 

When the corona viruses started to be the while world pandemic, people was starting selling their bitcoins and other currencies for hoping thats the crypto demands is gonna be decreased, so that's why they was selling by panicking and this leads for price to drop.

[Virgil dijk 1431]

That's not really the cause of bitcoin rising while there is still corona impact, people will use thier Visa cards for shopping and besides bitcoin isn't accepted as means of payment in some places, so for me I think the cause is that people who sold thier bitcoin due to panic has started buying them back and also more people are getting to invest in bitcoin since there is lock down most people would love to make money at home through working with bitcoin and also we are close to bitcoin halving.

[Calvinpriva 17296]

You are right friend, i think bitcoin is keep rising with this corona crisis because there are some business owners are fear to receive paper money as payments in their business so maybe they have decide to use crypto currency as payments.

[NevermindNe 549]

I partly agree with you, but most people are also afraid that dollars and euros will fall in price and because of this, their accumulated funds will be able to buy less goods than before.

[Raqeebzy 6456]

The so much expectations that the bitcoin is going to a ATH after halving in this month will be one of the critical factors that is making the bitcoin growing despite the pandemic challenge, I believe. 

[ComeBackIsrael 185]

I think the price of bitcoin is rising because people are starting to invest their remaining money in it because it is not clear what will happen next in the world.

[Jaysen0104 536]

It's just because when the btc price goes down there are lots of people investing to it because of the affordable price of btc in the market. And i know they plan to sell it when bitcoin reach their desired amount to earn good profit. In this kind of situation this is the best time to invest with bitcoin and soon when it pumps up on its highest possible price we can sell it and earn greater amount of profit.

[CryptoLover21 0]

Now a days corona virus affect the world and people are in quarantine so they can't move outside and can't buying with paper money most of people used digital currency like bitcoin for paying their personal services to be safe while staying home. So the value of bitcoin is increasing.

[ETheHedgehog 3104]

because of the nature of bitcoin as a digital currency it helps keeping physical contact much less than fiat money which is probably why it regained value after the initial drop

[Sennpaaai 871]

Why bitcoin price shouldn`t go up? Yep it greatly felt on the beginning of corona but it was because of people which panically tried to sell their btc

[Trofimova 133]

I think that bitcoin is growing because all the savings people have started to spend on buying cryptocurrencies because you can't buy anything now (clothes and so on)

[Sabbirislam64158 2]

For me it seems that most people avoid using paper money because of the corona distribution so maybe many people are buying right now when the world is fighting because of the corona crisis. Does anyone know the purpose of the rise of bitcoin here?

[Saj555 2250]

Bitcoin is a decentralised currency and that's why actually it can't be controlled by some one. So it is also apart from the outside news. But it is true that in this situation the investment has stopped a lot but the price is still rising. Because a halving will take place in crypto world and this is a bull run of the prices. That's why the price is rising in that way. 

[Brand1 1336]

My friend, the crypto market has nothing to do with the global commercial market, and this is because of the ban and prevention of the use of cryptography in most of the countries of the world, but because of the presence of the largest amount of currencies inside China, the price has come down when China was infected with the virus, but after the price recovered, it started to rise and today it reached more than $ 8,500

[Treat1234 0]

On 5/3/2020 at 5:38 PM, NayeemHaque said:

Yeah it’s really amazing. Corona virus affected everything but bitcoin price increase day by day. I think all of bitcoin trader concern about this and they started buy bitcoin so this price is increase.              

Bitcoin has already recover from the negatives impact from corona virus, this has been an opportunity for us to buy bitcoin as a cheap price and now it is more expensive

[Crypto123 0]

Yes, this is one of the strong reasons for the rise in bitcoin. I heard several days ago that people in the United States received 1,200$ a month from the US government because of Corona and they bought bitcoins with these sums they got. But I think there is another reason, and it's another piece of news that I had on my topic about whales collecting bitcoin.

[Captain Karim 0]

Bitcoin rises while the rest of the global markets are still in recession because Bitcoin does not know any rules, when it rises it breaks all resistance points and when it goes down it breaks all support points.

[bitcoin-shark 1928]

in my opinion the value of bitcoin is growing in anticipation of the imminent halving and it is not connected to a possible increase in its daily use,I don't think people use it more because of the virus...

[Zalaks007 543]

Because it is a digital currency which has nothing to do with the Corona and most importantly there's lots of demand of bitcoin now than theres is of fiat currency and when it comes to law of demand it always state that the higher the price the higher it price will be. I guess that's what's currently happening with btc.

[Thekingcallme 1975]

I think the reason for the high price of bitcoin in light of the stone due to the Corona virus is that there are many people who buy bitcoin

[koussai999 1986]

The biggest reason is that global economies are starting to recover from the repercussions of the Corona virus, which affected the beginnings of it and the money markets, which negatively affected the cryptocurrency markets, but at the present time I think that the markets are starting to recover from the matter

[P A Ashif 2409]

I also amazed when the price of Bitcoin keep rising instead of Corona. But then I tried to find the answer. And have some views over it. Due to Corona and quarantine lots of people are jobless and now they come to online money making so the demand of crypto also increased. And as people predicted that the price of BTC will go down the demand again increased which made the price to go up.

[Jamaloo 192]

this is ordinary in the event that we check to the circumstance months once more, when the crown infection start in China there is certifiably not a high effect about the digital currency circumstance, however when the extension of the infection sway more, yet now there are numerous nations who leave from the emergency, bit by bit comes the dependability.